Wearable technology is advancing at a rapid pace. Modern wearable devices may not be anything to fawn over, but a new generation of these devices is dawning. Apple recently revealed its Watch device, which is equipped with more features than any other smartwatch. The device is quite similar to a conventional smartphone, but designed to be significantly more intuitive and cater to its user’s movements and gestures.
Many wearable devices that are available today are simply novelty. They offer nothing more than a relatively interesting experience that is very similar to what can be found on a smartphone or tablet. These devices are often designed to serve a very specific purpose, such as tracking a person’s heart rate during an exercise or offering an interactive entertainment experience. Augmented reality headsets are somewhat more valuable in terms of the features that they offer, but these devices are typically only used for entertainment or social media purposes.
Current wearable devices may be little more than a stepping stone toward something much greater. Wearables are still not very popular in any conventional market, but they have shown that people are interested in new technology that is much more than a smartphone. As wearable technology becomes more advanced, it will likely become more integrated with humanity, moving from novelty to necessity in much the same way other mobile devices have. Once that happens, such technology could have a major impact on society as a whole.
Integrated technology is not a new concept. There are already people with NFC chips implanted beneath their skin. These chips can be programmed to serve a variety of purposes, from accessing electronic locks to providing easily accessible information about a person. It may be years before someone has a smartphone installed in their body, but wearable technology is beginning to show that such a thing could be possible at some point in the future.
The Token Service is designed to replace a consumer’s financial information with digital tokens. These tokens do not contain a consumer’s information, but can still be used to facilitate a mobile payment. The tokens can be stored by merchants and not just consumers as well. This means that consumers can shop at their favorite online stores and make purchases from their mobile devices without having to input any valuable financial information.